Sheboygan / Sheboygan Falls / Plymouth Multi-Family Housing Market Analysis. Prepared for: Sheboygan County Economic Development Corporation

Transcription

1 Sheboygan / Sheboygan Falls / Plymouth Multi-Family Housing Market Analysis Prepared for: Sheboygan County Economic Development Corporation Prepared by: Vierbicher Associates, Inc. Marilyn Haroldson, CEcD June 214

2 Table of Contents Section Page # Executive Summary 2 Project Overview & Methodology 6 Population and Households 1 Employment and Economy 15 Existing Housing Rental Stock 19 Appendix Comparable Apartment Profiles 23 Front Cover Images from Top photo Plymouth downtown, Middle left Sheboygan harbor, Middle right Sheboygan Falls Bottom right multifamily apartments/stock image 1

3 EXECUTIVE SUMMARY Sheboygan, Sheboygan Falls, and Plymouth represent a population of roughly 66,541 residents, within Sheboygan County. The City of Sheboygan is located on Lake Michigan, surrounding a fabulously developed harbor with amenities to attract young professionals to this urban area. Plymouth and Sheboygan Falls are communities 14 miles west of the downtown. These three communities plus Kohler Village serve as the home for the top thirty private employers in the County who employ over 7 percent of the County workforce. The County is experiencing a demand for a type of housing that is not being met by the current apartment stock. Employers have expressed their concerns to the SCEDC about the lack of available housing for workers which may limit their ability to attract employees for new positions. This document provides an overview of the potential housing demands that will be used to encourage new residential development within the study areas to address the need for additional multi-family rental units. Population Growth. This key driver of housing demand is expected to grow at a slow rate. A slowdown in population growth has occurred simultaneously with a decline in average household size, resulting in a steady increase in net new household formations. Changing demographics, single head of households and housing preferences have shifted demand, creating increased demand for rental units and senior housing. The analysis indicates a need for 45 additional rental units to meet the needs of the Age of Householder year and 11 additional rental units to meet the needs of the 65 and over householder. This is based on anticipation that 34 percent of households in these age groups will continue to rent. Table 8: Household Trends by Age ( ) Age of Sheboygan Plymouth Householder Falls Sheboygan City Downtown <25 years years years years years years years Total Change in Households Supported Rental/Owned Through 218 Through 218 Through 218 Through 218 Sources: US Census Bureau, Census 21 Summary File 1. ESRI forecasts 213 and 218 Employment Growth. Six major employers that were interviewed have indicated an expectation to hire 35 new employees in the next two years. Other employers not interviewed yet may be hiring. It was assumed that 5 percent of the35 positions will be filled by workers who currently live within commuting distance and 5% will move into the area. This growth in employment is expected to create a need for 15 additional units. Assuming that 34 percent of the new employees would be renters an additional 49 rental units will be needed to fill this demand. 2

4 Market Equilibrium (the point at which new construction is warranted). Over 35 apartment owners or property managers were contacted to assess the local vacancy rate for market rate, senior and income based rental units. Of the total 2,934 rental units, 2,374 were market rate apartment rental units with few vacancies. Assuming a vacancy rate of 5 percent or less as the point for which new construction should be considered, and based on 2,374 apartments units with 1 vacancies, in the rental complexes surveyed, the communities in the study area could add another 13 rental units to bring the market up to a 5% vacancy rate. The potential exists for an additional 3 rental units, assuming that there are no unforeseen ways or dramatic global economic shifts that would impact future residential, commuting, and lifestyle decisions. The strengths and challenges existing within the study areas should be examined carefully. The following list strengths and challenges to be explored further. Strengths: The top thirty privately held employers in Sheboygan County are located within 14 miles or less of Downtown Sheboygan and employ close to 7 percent of the workers in Sheboygan County. There exists an opportunity to capture persons that reside outside of Sheboygan County and commute into the County for work, especially with anticipated job growth. The net inflow of workers is strong with over 8,658 persons commuting into the County on a daily basis. After the out commute there remains a net inflow of those who live in Sheboygan County and work outside, there remains a net inflow of 1,53 workers. Apartment Rental vacancies are very low at this point in time with a potential demand. The multifamily rental market within the study area is considered strong due to low or no vacancies in the survey of over 2,89 apartments in Sheboygan Falls, Sheboygan City and Plymouth. (Table 13) The Kohler Company continues to employ and attract over 6, workers on a daily basis, however, Kohler Village has no apartment or rental units available. Kohler Village daytime population increases by over 5,95 persons due to the influx of workers. Sheboygan City daytime population increases by over 3,184 persons due to the influx of workers. Strategies have been developed through the Harbor Centre Master Plan to maximize Sheboygan s competitive advantage, including the arts, culture, food, housing, increased density, better community connections and cross-marketing. Downtown is pedestrian-friendly with easy access to quality restaurants, coffee shops and entertainment venues. There are several infill sites in Downtown Sheboygan identified for market rate multifamily developments. A consensus among those persons interviewed suggest that there exists a demand for new apartments with the newer amenities demanded by the younger renter and the retiring baby boomer. The younger generation and the older retiring generation remain the target market for renting. 3

5 Commuter-Adjusted Daytime Populations due to Worker In Commuting (Refer to Table 11c ) 6, 5, 4, 3, 2, Total Resident Population 1, Kohler Village Plymouth City Sheboygan City Sheboygan Sheboygan Town Falls City Estimated Daytime Population due to Working In Commuting Source: U.S. Census Bureau, American Community Survey 5-year estimates Challenges: Population growth (or lack thereof) in a community has significant implications for availability of employees, consumer spending and demand for residential space. The downtown population overall is forecasted to decline by -1.49%, but the population of those age groups seeking urban living is expected to rise. Investment in and marketing of the downtown could attract residents, causing an increase, rather than a decrease, in the population and an increase in the demand for housing. Employment growth is expected to increase with limited rental housing options due to the low vacancy rate. Apartment rental opportunities are limited due to low vacancy rates. Rents in the study areas are lower than the market rates for same style apartments in other cities in the region surrounding Sheboygan County. Based on the 212 American Community Survey 1-year Estimates, of the 13,597 occupied units paying rent in Sheboygan County, over 69 percent paid less than $749 per month. The median value of homes in the downtown area is $8,75; with the average value at $11,58 making the cost of home ownership cheaper than renting assuming the buyer has a down payment. Low rental rates discourage multifamily developers from taking the risk of building apartment complexes that require higher rents. A consensus among those interviewed, local developers and others from outside the area, was that the rents do not support new investments in the area yet. Existing multifamily apartments in the study areas are older, with the newest construction for market rate residential apartments built over seven years ago. 4

6 Recommendations: Based on expected employment growth and current commuting patterns, it is recommended that the SCEDC employ an aggressive marketing campaign to major employers to attract employees looking for an urban living environment and who desire to live near work. SCEDC should work with employers to identify reasons employees continue to commute and whether housing incentives would attract more workers to live in the target communities. Identify incentives that would attract developers to construct the needed housing. Further, explore the low vacancy rates to seek opportunities for development of additional new apartment complexes. Continue to explore the multifamily options for these communities based on the suggested need for additional workforce and senior housing. Based on research of America s Newest Generation, The Millennials, born roughly between 198s and early 2, will become the largest population group in U.S. history, projected to be 86 million strong by 22 or 7% larger than the baby-boom generation. Due to immigration, this figure could grow to 88.5 million people. The population surge of these young adults, combined with a typically large amount of student debt, and the transient nature of young professionals is creating a strong demand for apartments across the country. Because there is a resurgence of cities as centers of economic energy and vitality, a majority are opting to live in urban areas to be closer to their jobs and entertainment. In a national survey, 62% indicated that they prefer to live in the type of mixed-use communities found in urban centers, where they can be close to shops, restaurants and offices. To grow a community neighborhood attractive to a younger workforce and the retiring baby boomer generation, multifamily residential housing will need to be developed and constructed with amenities required by both this younger and the aging population. 5

7 PROJECT OVERVIEW and METHODOLOGY The Sheboygan County Economic Development Corporation (SCEDC) initiated this study for the purpose of compiling information on the current state and projections of five year demand for additional multifamily housing within the communities of Plymouth, Sheboygan Falls, Sheboygan City and the downtown area of the City of Sheboygan. The County is experiencing a demand for a type of housing that is not being met with the availability of the current apartment stock. The resulting report will be used to understand housing issues faced by renters, employees seeking housing and housing issues faced by employers within the county to establish the potential for additional multi-family housing within the study areas. This market study explores the types and characteristics of the existing multifamily housing within these communities. Study Area The study area for this analysis focuses on Plymouth, Sheboygan Falls, Sheboygan City and Downtown Sheboygan. The City of Sheboygan is square miles with a 213 population of approximately 5,. Sheboygan Falls is 5.41 square miles with a population of approximately 8,95 and the city of Plymouth is 6.34 square miles with a population of 8,446, a total study area of square miles. The resident population of Sheboygan, Sheboygan Falls, and Plymouth, (66,541 persons), represent over fifty seven percent (57%) of total county population of 115,57. Methodologies This report uses economic and market data from a variety of sources to assess local market conditions and economic drivers which will help to determine the City of Sheboygan, Downtown Sheboygan, Sheboygan Falls, and Plymouth comparative position relative to multifamily demand factors. As with any projections, there is a possibility that national or local economic factors may shift in unforeseen ways and impact future residential, commuting, and lifestyle decisions. The housing market area is defined as the geographic area from which a development is expected to draw the majority of its residents. Housing market areas are established using a variety of factors including, but not limited to: A detailed demographic and socioeconomic evaluation, Interviews with area planners, realtors, developers, property managers and other individuals, who are familiar with area growth patterns, Review of existing studies and personal observations, An evaluation of existing multifamily rental housing supply characteristics and trends. 6

8 Sources This market study uses demographic data obtained from a wide variety of sources, primarily the US Census and ESRI, a nationally recognized third party provider of demographic data, demographic estimate and projections. A substantial amount of data has been compiled and analyzed from various primary and secondary sources as part of this study: 199, 2, 21, 212 Census Data ESRI US Department of Labor Local Economic Development officials Local Chamber of Commerce officials Local Planning officials Local Building and Zoning officials Interviews with Property Management of multifamily apartments in Sheboygan, Sheboygan Falls & Plymouth Interviews with developers Wisconsin Department of Workforce Development Sheboygan County Economic Development Corp Survey National Multifamily Housing Council Shannon Bryant, research analyst, Ad-ology Interviews were conducted with the Plymouth and Sheboygan Falls Assessors, the Sheboygan Planning Department, Sheboygan Builders Association, Sheboygan Area Chamber of Commerce and other community and county officials. A consensus among those interviewed indicated that a predominant target market for the Young Professional for apartment development exists. 7

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11 POPULATION and HOUSEHOLDS Downtown Sheboygan Table 1 provides a summary of the demographic makeup of the people residing within the market study area and Table 2 shows the Population by Age Distribution, According to the U.S. Census and ERSI Business Analyst, the overall population for Downtown Sheboygan through 218 is expected to decrease by 52 persons, a 1.49 percent loss over the next five years. The renter occupied housing units are projected to only decrease by less than one percent between 21 and 218, with the overall average household size remaining relatively constant at 2.4 persons per household. It is estimated that by 218 almost 35 percent of the Downtown population will be between the ages of 35 and 64 years, with 22 percent between the ages of 2 and 34, a decline from 213. The ages will grow slightly from213 and represent 17 percent of the downtown population. The largest population increase will be the ages. Currently, over 35 percent of householders are renting their housing units. City of Sheboygan The City of Sheboygan will experience an overall population decline of 756 persons, a 1.58 percent loss over the next five years and a decline in number of households also reflected in the renter occupied housing units. However, there will be a strong increase in the population between the ages of 65 and 74, 665 persons, a potential target for senior housing and high end market rentals for baby boomers wanting to sell their homes. Currently, over 41 percent of the householders in Sheboygan are renting. Plymouth The overall population for the City of Plymouth through 218 is expected to decline slightly with a modest increase of 19 households, with the renter occupied housing units remaining the same. The biggest population increase will be the group between the ages of 65 and 74, an increase of 177 persons and a slight increase in the population between the ages of 2-24 years - 16 persons. In Plymouth slightly over 37 percent of householders are renting. Sheboygan Falls The overall population for the City of Sheboygan Falls through 218 is expected to increase by 287 persons, a 3.42 percent increase, with the number of households to increase from 3,634 to 3,789, a 4.9 percent increase in the next five years. Overall, Sheboygan Falls is expected to see population increases in all age ranges except the ages 45-54, with a decline of 7 percent this is the age group with the strongest preference for singlefamily homes. The City of Sheboygan Falls is the only community of the study areas to show population increases with only a.87 percent or less than one percent increase in the number of households. Currently, 31.5 percent of householders are renting in Sheboygan Falls. Sheboygan Falls is the community anticipated to grow at the largest rate over the next five years. Households are projected to increase by 154 with owner-occupied housing increasing by 144 units and rental units increasing by 1. 1

12 General population growth is the primary source of demand for new residential units of all types. General population growth can be attributed to both natural increase (births less deaths) and immigration. Because of the aging population, household sizes will continue to shrink, which creates greater demand for housing units as a ratio of population. Table 1 Demographic Summary of Study Area Plymouth % Change Sheboygan Falls % Change Sheboygan City % Change Downtown Sheboygan % Change DESCRIPTION Population 8,446 8, % 8,95 8, % 48,657 47, % 2,869 2, % Households 3,726 3,745.51% 3,634 3, % 2,1 19, % 1,291 1, % Families 2,329 2, % 2,281 2, % 12,2 11, % % Average Household Size Owner Occupied Housing 2,333 2,353.85% 2,489 2, % 11,914 11, % % Renter Occupied Housing 1,393 1, % 1,146 1,156.87% 8,186 8, % % Median Age Sources: US Census Bureau, Census 21 Summary File 1. ESRI forecasts 213 and 218 Table 1a Population Summary and Median Household Income Population Plymouth Sheboygan Falls Sheboygan City Downtown Sheboygan 213 Total Population 8,446 8,95 48,657 2, Total Population 8,433 8,382 47,91 2, Median Household Income $45,954 $51,77 $38,961 $31, Median Household Income $56,48 $61,282 $46,746 $35,67 Per Capita Income 218 $3,43 $32,754 $24,713 $22,97 Sources: US Census Bureau, Census 21 Summary File 1. ESRI forecasts 213 and 218 Table 2 Population by Age Distribution ( ) Plymouth Sheboygan Falls Sheboygan City Downtown Age % % % % 3, % 3, % % % % % % % 3, % 3,21 6.7% % % % % % % 3, % 3, % % 17 6.% % % % % 3,71 6.3% 2,93 6.1% % % % % % % 3, % 2, % % % % % % % 6, % 6, % % % % % % % 6,9 12.5% 5, % % % % % % % 6, % 5, % % % % % % % 5, % 5, % % % % % % % 3, % 4, % % % % % % % 2, % 2, % % % % % % % 1, % 1, % % % Sources: US Census Bureau, Census 21 Summary File 1. ESRI forecasts 213 and

13 Housing Market Analysis The housing market analysis provides an overview of local demographic, income and social factors which contribute to the demand for housing in the study communities. The analysis examines the impact of household size, income, age, and ownership status of Plymouth, Sheboygan Falls and Sheboygan City. For example, the need for rental housing and affordable housing, as well as active senior and retirement communities are frequently areas of future need in our aging society. However, housing demand comes from a broader geographic area than just the City of Plymouth, Sheboygan Falls and Sheboygan City. This larger pool includes employees who currently work in or near the communities and would prefer to live closer to their place of employment, newly forming households as a result of children exiting their parents household, and senior migration from rural areas to be closer to accessible services and medical care. All of these factors can drive future housing demand in the study communities beyond the needs of the existing population. Income and Housing Affordability Household income is a critical factor impacting housing demand. The ability of local households to afford existing housing stock influences the decision to purchase or rent, and indicates the price point at which future units will be absorbed. The following table indicates the number of households within various income groups in the study communities and their mortgage payment or rent affordability. In the City of Plymouth, over 63 percent of households can pay $875 rent or more, over 65 percent of households in Sheboygan Falls can afford over $875 per month, over 56 percent of households in the City of Sheboygan can afford $875 per month or more. In Downtown Sheboygan, only 44.9 percent can afford to pay more than $625 per month for rent. A median household income of $4, can support a mortgage of $14, at 4.5 percent interest with monthly mortgage payment of $848 including the real estate taxes. Table 3 Study Area s Households by Income 213 Income Plymouth Sheboygan Falls Sheboygan Downtown Total *Rent Allowance <$15, % % % % 3,949 $313 $15,-$24, % % % % 3,513 $5 $25,-$34, % % % % 3,992 $625 $35,-$49, % % % % 4,698 $875 $5,-$74, % % % % 5,423 $1,292 $75,-$99, % % % % 3,129 $1,771 $1,-$149, % % % % 2,98 $1,771 $15,-$199, % % % 8.6% 425 $1,771 $2, % % 125.6% 234 $1,771 Total 3,727 3,634 2,1 1,291 * Rent Allowance based on 25% of income Sources: US Census Bureau, Census 21 Summary File 1. ESRI forecasts 213 and

14 In 213, the median household income in Sheboygan Falls was $51,78 over 1 percent higher than Plymouth with a median household income of $45,954. In the City of Sheboygan median household income was $38,961. In Plymouth almost 6 percent owner-occupied housing lived in housing valued at $15, or less. In Sheboygan Falls, 6 percent of owner-occupied housing lived in housing units valued at $15, or less and in the City of Sheboygan over 8 percent lived in owner-occupied housing valued at $15, or less. Table 6 Owner-Occupied Housing by Value Values Plymouth Sheboygan Falls Downtown Sheboygan City Total 2,332 2, ,914 <$5, $5,-$99, ,45 $1,-$149, ,867 $15,-$199, ,587 $2,-$249, $25,-$299, $3,-$399, $4,-$499, $5,-$749, $75,-$999, $1,, Median Value $14,99 $138,83 $8,75 $131,35 Average Value $156,893 $154,962 $11,58 $153,85 Source: U.S. Census, ESRI Table 7 Percent Distribution by Age Cohorts D Age Cohort Plymouth Sheboygan Falls Sheboygan Downtown Ages Owner Occupied Renter Occupied Owner Occupied Renter Occupied Owner Occupied Renter Occupied Owner Occupied Renter Occupied % 82.8% 21.9% 78.1% 11.8% 88.2% 4.1% 95.5% % 49.3% 47.5% 52.5% 44.% 56% 17.9% 82.1% % 32.3% 72.3% 26.7% 6.% 4% 34.1% 65.9% % 28.3% 77.2% 22.8% 68.2% 31.8% 44.% 56.% % 26.1% 84.8% 15.2% 74.2% 25.8% 5.% 5.% % 26% 79.7% 2.3% 76.% 24% 66.3% 33.7% % 43% 67.6% 32.4% 75.% 25% 66.7% 33.3% # = 3,71 3,48 2,38 1,295 Source: US Census 21 Summary File 1. ESRI forecasts for

15 Household Trends Projections for household growth over the next five years are provided in the chart below. Yellow shading indicates segments of the population anticipated to experience household growth, while areas without shading indicated a decline in households with the age group for the corresponding five years period. A decline is most pronounced in the younger and middle-aged households. The City of Sheboygan shows the strongest increase in the demand for housing for the 55 to 84 age group. The national trend over the next five years anticipates an increase for the 65 and over population of 11.5 percent. Based on rental occupancy of householders in various age segments from the census data, it can be anticipated that 34 percent of households 65, suggesting a need for 11 apartments for the over 65 population and demand for housing for 45 units in the age segment in all 3 communities. Projections for household growth in Sheboygan Falls and Plymouth show a loss in the overall change in households, however, there shows an increase in the households for the year segments and the 65+ households. Table 8: Household Trends by Age ( ) Age of Householder Plymouth Sheboygan Falls Sheboygan City Downtown <25 years years years years years years years Total Change in Households Supported Through 218 Through 218 Through 218 Through 218 Rental/Owned Sources: US Census Bureau, Census 21 Summary File 1. ESRI forecasts 213 and

16 EMPLOYMENT and ECONOMY The top 3 privately-held employers are located within the four communities of Plymouth, Kohler, Sheboygan Falls, and City of Sheboygan. Over 5,95 workers commute into Kohler daily to work, 42 workers live and work in Kohler, 821 workers commute into Plymouth, 3,184 workers commute into Sheboygan City and 67 workers commute into Sheboygan Falls. These communities within Sheboygan County are able to draw from a regional workforce to fill jobs at their companies. However, based on interviews that the Sheboygan County Economic Development (SCEDC) conducted with several employers in the study communities, there are currently several open positions at several companies. At this time, six companies have reported 632 open positions at their companies with intentions to add 35 new employment positions in 214. Based on this new employment news within the communities being studied, it is recommended that the SCEDC employ an aggressive marketing campaign to major employers within their communities, in order to effectively attract and capture a large percentage of employees looking for an urban living environment and who desire to live near work. Assuming 35 new hires, 5% of the positions being filled with persons within the communities, 5% from outside the area, there will be a need for housing for 15 persons to live and work in the communities surrounding their choice of employment. Assuming that 34 percent would be renters this would require an additional demand for 49 apartment units. The growth of companies will require a need for more housing to attract a workforce. A lack of growth in a community may influence a business as to whether they will locate in a community or not, or will consider other locations where there is a labor pool to draw from. Housing opportunities and options will become important to attract and maintain a certain workforce. 15

17 Table 9 Top 3 Privately-held Employers # Company Name Description Employees 1 Kohler Co. Enameled iron and metal sanitary wares manufacture 6,+ 2 Bemis Mfg. Co. Plastic product manufacturing 1,+ 3 Nemak Aluminum die-casting foundries Aurora Medical Group, Inc Physicians offices Aurora Health Care Central, Inc. General medical and surgical hospital Sargento Foods, Inc. Cheese manufacturing Acuity Direct property and casualty insurers Johnsonville Sausage Meat processing Rockline Industries, Inc. Converted paper product manufacturing Fresh Brands Distributing, Inc. Managing Offices Wal-Mart Associates, Inc. Discount department stores St. Nicholas Hospital General medical and surgical hospital Locate Staffing, Inc. Temporary Help Services Dairy Farmers of America, Inc. Cheese manufacturing The Vollrath Co. Kitchen utensil, pot and pan manufacturing Times Printing Co., Inc. Commercial lithographic printing Richardson Industries, Inc. Truss manufacturing Nemschoff Chairs, Inc. Institutional furniture manufacturing Blue Harbor Resort Hotel Pick & Save Foods Supermarket Lakeland College Educational Training Plastics Engineering Co. Plastics material and resin manufacturing McDonald s Limited-service restaurant Curt G. Joa, Inc. Paper industry machinery manufacturing American Orthodontics Corp. Dental equipment and supplies manufacturing Extendicare Homes, Inc. Nursing care facilities Great Lakes Cheese of WI, Inc. Dairy-product merchant wholesalers Osthoff Resort Hotel Dutchland Plastic Corp. Plastics product manufacturing Masters Gallery Foods, Inc. Dairy-product merchant wholesalers Source: Wisconsin Department of Workforce Development

18 Ty Table 1 Sheboygan MSA Income by Occupation Total Employment Mean Hourly Wage Median Wage All Occupations 55,42 $18.92 $39,34 Management Occupations 2,2 $46.3 $96,3 Business and Financial Operations Occupations 1,96 $27.11 $56,39 Computer and Mathematical Occupations 85 $32.25 $67,7 Architecture and Engineering Occupations 1,31 $31.51 $65,55 Life, Physical, and Social Science Occupations 28 $26.69 $55,52 Community and Social Service Occupations 53 $22.8 $47,42 Legal Occupations 18 $39.81 $82,8 Education, Training, and Library Occupations 2,55 $23.43 $48,74 Arts, Design, Entertainment, Sports, and Media Occupations 55 $19.59 $4,74 Healthcare Practitioners and Technical Occupations 2,41 $28.84 $6, Healthcare Support Occupations 2,1 $12.67 $26,36 Protective Service Occupations 85 $2.19 $41,99 Food Preparation and Serving Related Occupations 4,9 $9.62 $2,2 Building and Grounds Cleaning / Maintenance Occupations 2,18 $11.18 $23,26 Personal Care and Service Occupations 2,9 $1.83 $22,53 Sales and Related Occupations 4,6 $16.97 $35,29 Office and Administrative Support Occupations 7,53 $15.46 $32,16 Farming, Fishing, and Forestry Occupations 13 $15.87 $33,1 Construction and Extraction Occupations 1,66 $22.14 $46,6 Installation, Maintenance, and Repair Occupations 2,4 $21.42 $44,56 Production Occupations 9,87 $17.14 $35,66 Transportation and Material Moving Occupations 4,74 $15.62 $32,48 lsource: Wisconsin Department of Workforce Development (DWD)May 212 Occupational Employment Statistics 17

19 Commuting Patterns The following Tables 11a and 11b give an indication of where Sheboygan County residents travel to work as well as non-resident workers that travel to employment in Sheboygan County. According to the data compiled by the US Census Data 26-21, American Community Survey for Sheboygan County, 85.5 percent of Sheboygan County residents work within Sheboygan County, while 17.4 percent of Sheboygan County s workforce commutes from surrounding areas outside of the County. Over 8,658 persons commute into Sheboygan County daily for work. There are 7,155 persons who live in Sheboygan County that work outside of the county leaving a net inflow of 1,53 persons on a daily basis. Table 11a Place of Residence for Persons Who Work in Sheboygan County Table 11b Place of Work for Persons Who Live in Sheboygan County Number State Residence Co 49,742 WI Sheboygan 3,76 WI Manitowoc 1,17 WI Ozaukee 1,42 WI Fond du Lac 842 WI Calumet 457 WI Milwaukee 367 WI Washington 226 WI Brown 81 WI Dodge 81 WI Winnebago 77 WI Waukesha 75 WI Racine 61 WI Outagamie 48 WI Marathon Work Inflow: 8,658 Number State Work Co. 49,742 WI Sheboygan 2,495 WI Ozaukee 1,689 WI Milwaukee 1,365 WI Manitowoc 522 WI Fond du Lac 271 WI Brown 268 WI Calumet 84 WI Dane 81 WI Dodge 44 IL Cook 4 WI Outagamie 34 New York Erie 28 WI Kewaunee 17 WI Portage Worker Outflow: 7,155 Net Inflow: 1,53 Source: U.S. Census Bureau Data, American Community Survey Table 11c Commuter Adjusted Daytime Population: Minor Civil Divisions Minor Civil Division Name Total Resident Population Total Workers Working in MCD Total Workers Living in the MCD Estimated Daytime Population Daytime Population change due to commuting Percent Daytime Population Change Due to Commuting Kohler Village 2,46 6, ,951 5, % Plymouth City 8,372 4,915 4,94 9, % Sheboygan City 49,734 27,76 25,522 52,918 3, % Sheboygan Town 7,14 2,325 3,913 5,426-1, % Sheboygan Falls City 7,68 4,48 3,981 7, % Source: U.S. Census Bureau, American Community Survey 5-year estimates 18

20 EXISTING HOUSING RENTAL STOCK Sheboygan County Building Permits History Based on building permit history reported to the U.S. Census Bureau, 1,118 multifamily units were constructed in various communities throughout the County in the past thirteen years. Not all units were constructed for the market rate residential living. Based on information from building inspectors and assessors, many units were for senior housing and assisted living units. All of the communities in the study area reported limited construction of residential development since 27. Within the Sheboygan County there have been 3,19 permits issued for single family residential units since 2, an annual average of 239 single family residences in the County. The construction of apartment complexes and buildings with five or more units since 2, have added 1,118 units to the existing inventory. Construction of the three and four family apartments added 15 units to the market. The City of Sheboygan issued building permits for 73 residential units for a retirement community in 26, 24 apartment units in 27, and permits for 42 units for senior housing in 21. All other apartment complexes were constructed prior to 27. There has been limited development of multifamily housing in downtown Sheboygan, the City of Sheboygan, Sheboygan Falls and Plymouth in the past 7 years. The newest multifamily development identified in the study area was in Sheboygan Falls in 29, (6) eight family buildings for a total of 48 units. Based on an interview with the property manager in April 214, this apartment complex has no vacancies and a waiting list. In 213 the City of Plymouth issued permits for (2 twelve family apartments (24 units) that were subsidized housing and (2) eight family elderly housing. In the Village of Kohler, currently, there are no apartment rental complexes or any construction planned based on interviews with Village Staff. Table 12 - Sheboygan County Building Permits History Year Single Family Three & Four Family Five or more Family Total 3, ,118 Annual Average Source: US Census Bureau Reported Only; Annual New Privately-owned residential building permits 19

21 Existing Multifamily Rental Apartments The study worked to identify a sampling of the existing market residential apartments in the Sheboygan City, downtown area, Plymouth and Sheboygan Falls, those communities that would be an influence on the renter and compete with the Downtown Sheboygan market. The following comparable developments were identified through a variety of sources; websites, interviews, real estate professionals, property managers. Over 35 apartment complex owners or managers were contacted. The sampling identified the ranges of rents currently paid by tenants, in senior housing, income qualifying units and market rate apartments. The rents ranged from $35 per month to $1,. Several managers reported that the rents in the Sheboygan Falls and Plymouth area were lower than other apartment complexes with the same amenities that they owned in the Southeastern part of the state. Based on interviews with the managers or owners of over 2,934 rental units in the study area communities, market rate rental units are continually occupied. A few of the senior apartment complexes were experiencing small vacancies. The managers or owners reported zero vacancies in the newer constructed apartments and renovated complexes as well. Of the 2,934 rental units in the survey 527 were senior apartments and 56 units were income restricted. Overall, there were 2,374 market rental units of those apartments in the survey. Apartment trends are tracked at the regional level only from the perspective of investment sales. REIS, a real estate market research firm, tracks information on properties with 5+ units in the Milwaukee Market. According to the firm s first quarter 213 vacancy and rent report, Milwaukee s quarterly vacancy rate continues to decrease, dropping from 4.2 percent five years ago to 3.7 percent in 213. This was lower than the Midwestern vacancy rate of 4.1 percent and well below 5 percent vacancy considered to signal market equilibrium (the point at which new construction is warranted). The multifamily rental market within Sheboygan Falls, Plymouth and Sheboygan City is considered strong by generally accepted standards. Assuming a vacancy of 5 percent as the point for which new construction should be considered, and based on 2,374 apartments units with less than 1 percent or no vacancy, the area could handle an additional 13 market rate rental units. 2

22 Table 13 Overview of Existing Multifamily Market Rents in the Study Area Further descriptions of the apartment units can be found in the Appendix. Community Building Type Apartment Complex Total Rent Vacancy Year Built Rooms Sheboygan Amanda Lane Luxury 88 $78-$9 No 24 2, 3 Sheboygan Balzer Wagon Works 14 $6-$7 No Renivated , 2 Sheboygan Income Camelot Manor Town Houses 76 $656-$ , 4 Sheboygan Club at Oak Creek 287 $47-$ Studio, 1, 2 Sheboygan Country Village Apartments 416 $485 - $57 No , 2 Sheboygan Courtyard Aparments 119 $67-$ Sheboygan Estate Apartments 112 $75-$195 No ,2,3 Sheboygan Mandocino Village 73 $79-$975 No 1996/1998 Loft, 1, 2, 3 Sheboygan Mapledale Apartments 125 $6-$955 No 2 1, 2 Sheboygan Mapledale Luxury Apartments 18 $64-$78 No , 2 Sheboygan Income Mission Village of Sheboygan 76 $445-$ , 3, 4 Sheboygan Income Partners Sunnyside Townhouses 5 $65-$665 No , 3 Sheboygan Sheboygan Regency Homes 59 $48-$ , 2 Sheboygan I & S Taylor Park Apartments 42 $61-$83 No 211 1, 2 Sheboygan Village Green Apartments 12 $54-$565 No Sheboygan Villas at Union 8 $689-$839 No , 2 Sheboygan Windward Cove 84 $715-$ Loft, 1, 2, 3 Sheboygan DT Enz Manor 53 $345-$55 No 1926 and 1895 Studio, 1, 2 Sheboygan DT Income Garden Toy Factory 72 $345-$ , 2, 3 Sheboygan DT Henry Jung Apartments 53 $6-$7 No Renivated , 2 Sheboygan DT Income Leverenz 8th Street Loft 24 $515-$1 No Renivated , 2 Sheboygan DT Income Riverwalk Apartments 6 $345-$ , , 2, 3 Sheboygan DT I & S Waterview of Sheboygan 91 $61-$95 No , 2 Sheboygan Falls Income Brickner Woolen Mills Apartments 34 $6-$7 No Renivated , 2 Sheboygan Falls Falls Parc 84 $665-$975 No 24 1, 2, 3 Sheboygan Falls Ravina Village 152 $595-$74 1 2, 23, 26 1, 2, 3 Sheboygan Falls Timber Springs 88 $67-$85 No 25 1, 2 Plymouth Briarwood Cottage 72 $755-$875 No 1992, 2, 214 1, 2 Plymouth I & S Colonial Columns 28 $51-$64 No , 2 Plymouth Inocme Fairview Crossing Apartments 4 $46-$525 No 199 1, 2 Plymouth Legion Apartments 2 $525-$575 No , 2 Plymouth Income Pleasant View Townhouses 24 $585-$785 No 21 1, 2 Plymouth Salem Green Benevelent Apartments 78 $78, No Plymouth South Horizon Living 32 $ TOTAL UNITS 2,934 or Income Restricted units ,999 Based on the National Multifamily Housing Council 213 Survey of Apartment Resident Preferences, over 14,69 responses from 1,426 communities indicated the highest priority was High Speed Internet access and apartments with patio/balconies. Eighty eight percent of the renter respondents required washer/dryers in the unit with a garbage disposal. Eighty four percent showed interest in apartments with Fitness Centers and seventy eight percent requested Package Delivery Room/Holding areas. 21

23 Table 14 Apartment Resident Preferences 213 Survey Greatest Interest NMHC-Kingsley 213 Survey of Apartment Resident Preferences High Speed Internet Access 93% Patio/Balcony 93% Washer/Dryer in Unit 88% Fitness Center 84% Refrigerator with Water/Ice Dispenser 83% Package Delivery Room/Holding Area 78% The survey of comparable apartments shown above indicates that one and two bedroom apartments are the most population units with limited construction of the three bedroom apartment. Ability to collect higher rents may be a limiting factor for constructing more 3 bedroom apartment along with the more modern design of apartments to maximize the use of space and the decreasing size of the household. More detail descriptions of the apartment complexes surveyed are attached. 22

24 Appendix - Apartment Property Profiles 23

25 Comparable: Amanda Lane Luxury Apartments Year Built: 24 Map #: Address: 4711 Amanda Lane, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA / DEN 2 BR / 1 BA 2 BR / 1 BA / GAR 3 BR / 1 BA 3 BR / 2 BA $78 $78 $835 $86 $ Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center x Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage (1 or 2 car garage) Extra Storage x Pre-wired for Cable TV x Individual Entrance On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings Disability Access Grills available x Walk-in Closets x Ceiling Fans On-site Guest Parking Security Deposit: 1 month rent Lease: 12 months Remarks: Pets ok 24

26 Comparable: Balzer Wagon Works Year Built: Renovated 1992 Map #: Address: 818 Pennsylvania Ave, Sheboygan, WI Telephone: (92) Total 1 BR / 1 BA $6 2 BR / 1 BA $ Vacant x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace (Some) x Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator x Microwave Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings (Some) x Disability Access Grills available x Walk-in Closets (Some) x Ceiling Fans (Some) x On-site Guest Parking Security Deposit: $3 Lease: 12 months Remarks: Close to shopping & dining; 1 block from bus transportation station; near churches and schools. Beautiful 4-story brick bldg, rehabbed in Elegant cream city brick interior walls, 9 ceilings, view of Lake Michigan, rooftop deck overlooking City and Lake Michigan. Cats are allowed. Pet weight limit: 1 lbs. Max number of pets: 2. Refundable pet deposit: $15; monthly pet rent: $25. 25

27 Comparable: Camelot Manor Year Built: 197 Map #: Address: 2332 Carmen Ave, Sheboygan, WI Telephone: (92) Vacant BR / 1.5 BA 3 BR / 1.5 BA 4 BR / 1.5 BA 4 BR / 1.5 BA $678 Max $656 $678 Max $716 Section 8 Section 8 Varies 1 1 Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace Hot Water Community Room Disposal Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave Garage Extra Storage Pre-wired for Cable TV x Individual Entrance On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings Disability Access Grills available Walk-in Closets Ceiling Fans x On-site Guest Parking Security Deposit: $5 Lease: 1 year for market rate, section 8 is month to month after the first year Remarks: Cats ok 26

28 Comparable: The Club at Oak Creek Apartment Homes Year Built: 1974 Map #: Address: 241 Bollmann Drive, Sheboygan, WI Telephone: (92) Vacant Studio Apt 1 BR/1 BA Apt 2 BR/1BA Apt $47-$51 $495-$575 $595-$675 All x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal x Swimming Pool x Dishwasher Fireplace x Hot Water (only included in gas units) x Community Room x Disposal x Air Conditioning Electricity x Fitness Center Washer/Dryer x Drapes/Blinds x Heat (only included in gas units) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage (2 total) Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management x High Speed Internet Access Sun Room x Clubhouse x Wireless Internet Access Vaulted Ceilings x x Disability Access x Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: $2 (Studio); $3 (1 and 2 BR) Lease: 6, 9 or 12 months Remarks: Furnished units available. Minutes from Sheboygan Shores and downtown Kohler. Full complement of on-site recreation. Cats and dogs OK; call for service animal policy. 2 pets maximum; $1 non-refundable cat fee; $2 non-refundable dog fee; $2 monthly fee per pet. 27

29 Comparable: Country Village Apartments Year Built: 1991 Map #: Address: 433 Thielman Drive, Sheboygan, WI Telephone: (92) Vacant 2 1 BR / 1 BA $485-$ BR / 1 BA $56-$ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony / Patio x Trash Removal x Swimming Pool Dishwasher Fireplace x Hot Water x Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds Heat (gas) Hot Tub W/D Hook-up Private Entrances Elevator Microwave Garage Extra Storage x Pre-wired for Cable TV x Common Entry Business Center High Speed Internet Access Sun Room x Off Street Parking x Wireless Internet Access High/Vaulted Ceilings x Clubhouse x Ceiling Fans 24-hr Emergency Maintenance x Walk-in Closets Recycling available Disability Access x On Site Management Guest Parking Security Deposit: Two options: 1. First month s rent 2. $175 (limited coverage) Lease: 6 Months or 1 Year Remarks: Tenants credit report and background are checked. Pets are allowed under 25 lbs. There is a pet deposit of $25 and monthly charge of $2. 28

30 Comparable: Courtyard Apartments Year Built: 1986 Map #: Address: 3427 Lakeshore Road, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1.5 BA $67-$71 $ Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal x Swimming Pool x Dishwasher x Fireplace Hot Water Community Room x Disposal x Air Conditioning Electricity x Fitness Center x Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry Elevator Microwave x Garage Extra Storage x Pre-wired for Cable TV x Individual Entrance On-Site Management High Speed Internet Access Sun Room x Clubhouse Wireless Internet Access x Vaulted Ceilings x x Disability Access Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: $3 Lease: 6 or 12 month lease Remarks: Furnished units available. Cats and dogs OK; call for service animal policy. Cats - $1 deposit; dogs (max 2) - $25 deposit and $2 monthly charge; breed restrictions. 29

31 Comparable: Estate Apartment Year Built: Map #: Address: 4849 Heather Valley Road, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 & 2 BA 3 BR / 2 BA $75-$77 $86-$875 $995-$ Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven x Balcony/Yard x Trash Removal x Swimming Pool x Dishwasher Fireplace Hot Water x Community Room x Disposal x Air Conditioning Electricity x Fitness Center x Washer/Dryer x Drapes/Blinds Heat (Gas) x Jacuzzi W/D Hook-up x Controlled Entry x Elevator x Microwave x Garage (Underground Parking) x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management x High Speed Internet Access Sun Room x Clubhouse x Wireless Internet Access x Vaulted Ceilings (Some) x x Disability Access x Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: (1 BR) $5, (2 BR) $6, (3 BR) $7 Lease: 1 year lease, after the first year the tenant can go month to month with an extra $5 monthly charge. Remarks: Cable and internet is included in the rent through AT&T Uverse TV with DVR. Pets are allowed, restriction on breads. Tenants are limited to 2 pets, $1 pet deposit per pet, monthly fee of $2 for the first pet and $1 for the second. If the animal is over 35 lbs a 2 year lease is required. Furnished units available. 24 hour emergency maintenance service. Accent wall color choices available. 3

32 Comparable: Mendocino Village Apartments Year Built: Map #: Address: 3917 Mendocino Lane, Sheboygan, WI Telephone: (92) Vacant Loft 1 BR / 1 BA Loft 2 BR / 2 BA 1 BR / 1 BA 2 BR / 2 BA 3 BR / 3 BA $79-$81 $87-$88 $7-$735 $76-$81 $ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven x Balcony/Yard x Trash Removal x Swimming Pool x Dishwasher x Fireplace Hot Water x Community Room x Disposal Air Conditioning Electricity x Fitness Center x Washer/Dryer (In loft units) x Drapes/Blinds Heat (Gas) x Jacuzzi W/D Hook-up x Controlled Entry x Elevator Microwave x Garage (Underground parking) x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management x High Speed Internet Access Sun Room x Clubhouse x Wireless Internet Access x Vaulted Ceilings x Disability Access x Grills available x Walk-in Closets x x Ceiling Fans x On-site Guest Parking Security Deposit: (1 BR) $5, (2 BR) $6, (3 BR) $7 Lease: 1 year lease, after the first year the tenant can go month to month with an extra $5 monthly charge. Remarks: Cable and internet is included in the rent through AT&T Uverse TV with DVR. Pets are allowed, restriction on breads. Tenants are limited to 2 pets, $1 pet deposit per pet, monthly fee of $2 for the first pet and $1 for the second. If the animal is over 35 lbs a 2 year lease is required. Furnished units available. 24 hour emergency maintenance service. Accent wall color choices available. 31

33 Comparable: Mapledale Apartments Year Built: 2 Map #: Address: 4139 Driftwood Ct, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 2 BA $6-$78 $79-$ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal x Swimming Pool x Dishwasher Fireplace x Hot Water x Community Room x Disposal x Air Conditioning Electricity x Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry Elevator Microwave x Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room x Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: 12 months Remarks: 32

34 Comparable: Mapledale Luxury Apartments Year Built: 2/21 Map #: Address: 4122 Driftwood Ct, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 2 BA $64-$685 $735-$ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal x Swimming Pool x Dishwasher Fireplace x Hot Water x Community Room x Disposal x Air Conditioning Electricity x Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry Elevator Microwave x Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room x Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: 12 months Remarks: 33

35 Comparable: Mission Village of Sheboygan Year Built: 29 Map #: Address: 467 Telluride Drive, Sheboygan, WI Telephone: (92) Vacant BR / 1.5 BA 3 BR / 2.5 BA 3 BR / 2.5 BA 4 BR / 2 BA 4 BR / 2 BA $445 Varies $79 Varies $87 Section 42 Section 42 Section x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace x Hot Water Community Room x Disposal x Air Conditioning Electricity x Fitness Center x Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator x Microwave x Garage Extra Storage x Pre-wired for Cable TV x Individual Entrance x On-Site Management High Speed Internet Access Sun Room x Clubhouse Wireless Internet Access Vaulted Ceilings Disability Access Grills available x Walk-in Closets x Ceiling Fans On-site Guest Parking Security Deposit: Varies after background check Lease: Month to month after the first year Remarks: Quite location, near Dog Park. 34

36 Comparable: Partners Sunnyside Townhouses Year Built: 1992 Map #: Address: 124 Weeden Creek Road, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 BA 3 BR / 1 BA 3 BR / 1 BA $65 $665 Market Section 42 Market Section Laundry Room x Refrigerator W/W Carpet x Water/Sewer x Playground (2) x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace Hot Water Community Room Disposal Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi x W/D Hook-up Controlled Entry Elevator Microwave Garage x Extra Storage x Pre-wired for Cable TV x Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access (4 units) Grills available Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: $3 Lease: Month to month after the first year Remarks: Average waiting list is 11 people. 35

37 Comparable: Sheboygan Regency House Year Built: 199 Map #: Address: 919 Wisconsin Ave, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 1 BR / 1 BA 2 BR / 1 BA 2 BR / $48 $571 $616 $ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace Hot Water x Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator Microwave Garage x Extra Storage (15) x Pre-wired for Cable TV Individual Entrance On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access Grills available Walk-in Closets x x Ceiling Fans On-site Guest Parking Security Deposit: Lease: 6 months Remarks: living, offers a styling salon. 36

38 Comparable: Taylor Park Apartments Year Built: Refurbished 211 Map #: Address: 826 South Taylor Drive, Sheboygan, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 BA $61-$71 $67-$83 All units & Section Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace x Hot Water x Community Room x Disposal x Air Conditioning Electricity x Fitness Center x Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator x Microwave x Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management x High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings x Free Wi-Fi in Community Room x Disability Access x Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: $5 Lease: 12 months Remarks: Cats ok 37

39 Comparable: Village Green Apartments Year Built: 199 Map #: Address: 376 Superior Ave, Sheboygan, WI Telephone: (92) Vacant 12 2 BR / 1 BA $54-$ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace x Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry Elevator Microwave Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings Disability Access Grills available Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: $5 Lease: 1 year or 6 months for an additional $5 per month Remarks: Normally at 1% no vacancy rate. 38

40 Comparable: Villas at Union Year Built: 1995 Map #: Address: Meadowland Drive, Sheboygan, WI Telephone: (92) BR / 1 BA $689-$ BR / 1 BA $79-$ BR / 2 BA $749-$ Vacant Laundry Room x Refrigerator x W/W Carpet Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace Hot Water Community Room x Disposal x Air Conditioning Electricity x Fitness Center Washer/Dryer Drapes/Blinds x Heat (Gas) Jacuzzi x W/D Hook-up x Controlled Entry Elevator Microwave x Garage (Underground Parking) x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room x Clubhouse Wireless Internet Access x Vaulted Ceilings x Disability Access Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: 6 or 12 month lease Remarks: Quality apartment homes with open concept living room and breakfast bar. Various floor plans to choose from. No dogs allowed. 39

41 Comparable: Windward Cove Year Built: 1999 Map #: Address: 512 Windward Court, Sheboygan, WI Telephone: (92) Loft / 1 BA $ BR / 1 BA $715-$ BR / 1-2 BA $835-$ BR / 1.5 BA $125-$ Vacant 2 Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center x Washer/Dryer Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage Extra Storage x Pre-wired for Cable TV x Individual Entrance x On-Site Management x High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings x Disability Access x Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: Month to month after the first year Remarks: Private entrances. Upper units have vaulted ceilings, skylights and office nook. Cats OK; call for dog and service animal policy. Maximum number of pets: 2 with combined weight limit of 4 lbs. Refundable pet deposit: $5. 4

42 Comparable: Enz Manor Year Built: 1926 Map #: Address: 919 N 5 th Street, Sheboygan, WI Telephone: (92) Studio / 1 BA $345-$ BR / 1 BA $ BR / 2 BA $55 Vacant Varies x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace Hot Water Community Room Disposal Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry Elevator Microwave Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management x High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings Disability Access Grills available x Walk-in Closets Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: Month to month with a minimum of 3 months Remarks: No pets 41

43 Comparable: Garden Toy Factory Apartments Year Built: 2 Map #: Address: 83 N Water Street, Sheboygan, WI Telephone: (92) Vacant 72 Total 1 BR / 1 BA 2 BR / 1 2 BA 3 BR / 1 2 BA $345-$795 $675-$875 $575-$99 52 Section Laundry Room x Refrigerator x W/W Carpet Water/Sewer Playground x Range/Oven Balcony/Yard Trash Removal Swimming Pool x Dishwasher Fireplace Hot Water x Community Room x Disposal x Air Conditioning Electricity x Fitness Center x Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator Microwave x Garage x Extra Storage Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access x Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings x Disability Access Grills available x Walk-in Closets Ceiling Fans x On-site Guest Parking Security Deposit: Lease: 12 months Remarks: Maximum of one dog or two cats per household. You can have a dog and cat in the same household. There is a $2 pet deposit ($1 refundable/$1 non-refundable). The monthly pet fee is $25. There is no weight limit and bread restriction. 42

44 Comparable: Henry Jung Apartments Year Built: Renovated 1992 Map #: Address: 62 South 8 th Street, Sheboygan, WI Telephone: (92) Total 1 BR / 1 BA $6 2 BR / 1 BA $7 2 BR / 2 BA $7 Vacant 5-12 x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace x Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator x Microwave Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings (Some) x Disability Access Grills available x Walk-in Closets (Some) x Ceiling Fans (Some) x On-site Guest Parking Security Deposit: $3 Lease: 12 months Remarks: Close to shopping & dining; 1 block from bus transportation station; near churches and schools. Beautiful 4-story brick bldg, rehabbed in Elegant cream city brick interior walls, 9 ceilings, view of Lake Michigan, rooftop deck overlooking City and Lake Michigan. Cats are allowed. Pet weight limit: 1 lbs. Max number of pets: 2. Refundable pet deposit: $15; monthly pet rent: $25. Low income restriction removed in

45 Comparable: Leverenz 8 th Street Loft Year Built: Renovated 1992 Map #: Address: 531 S. 8 th Street, Sheboygan, WI Telephone: (92) Vacant 24 Total Studio Apt 1 BR / 1 BA 2 BR / 1 BA 2 BR / 2 BA $515 $48-$58 $57-$85 $57-$ Section x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace (Some) x Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator x Microwave Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings (Some) x Disability Access Grills available x Walk-in Closets (Some) x Ceiling Fans (Some) x On-site Guest Parking Security Deposit: $3 Lease: 12 months Remarks: Close to shopping & dining; 1 block from bus transportation station; near churches and schools. Beautiful 4-story brick bldg, rehabbed in Elegant cream city brick interior walls, 9 ceilings, view of Lake Michigan, rooftop deck overlooking City and Lake Michigan. Cats are allowed. Pet weight limit: 1 lbs. Max number of pets: 2. Refundable pet deposit: $15; monthly pet rent: $25. 44

46 Comparable: Riverwalk Apartments Year Built: 1996, 1998 Map #: Address: 828 N 1 th Street, Sheboygan, WI Telephone: (92) Total 1 BR / 1 BA $345-$565 2 BR / 1 BA $66-$675 3 BR / 2 BA $765-$775 Section Vacant 3 Laundry Room x Refrigerator x W/W Carpet Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace Hot Water Community Room x Disposal Air Conditioning Electricity Fitness Center x Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage Extra Storage Pre-wired for Cable TV x Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings Disability Access Grills available x Walk-in Closets Ceiling Fans x On-site Guest Parking Security Deposit: Lease: 12 months Remarks: Maximum of one dog or two cats per household. You can have a dog and cat in the same household. There is a $2 pet deposit ($1 refundable/$1 non-refundable). The monthly pet fee is $25. There is no weight limit and bread restriction. 45

47 Comparable: Waterview of Sheboygan Year Built: 1997 Map #: Address: 91 North 1 th Street, Sheboygan, WI Telephone: (92) Total 1 BR / 1 BA $61-$627 2 BR / 1 BA $696-$95 Section BR units Vacant x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace (Community room) x Hot Water x Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi x W/D Hook-up (2 BR units only) x Controlled Entry x Elevator Microwave x Garage (Underground parking) x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management x High Speed Internet Access Sun Room Clubhouse x Wireless Internet Access Vaulted Ceilings x x Disability Access x Grills available x Walk-in Closets x x Ceiling Fans x On-site Guest Parking Security Deposit: Half months rent Lease: 12 months Remarks: Pets ok less than 2 lbs. There are urgent care call bells in the bathrooms and bedrooms. Underground parking spaces are an additional monthly charge. 46

48 Comparable: Brickner Woolen Mills Apartment Year Built: Renovated 1992 Map #: Address: 639 Monroe Street, Sheboygan Falls, WI Telephone: (92) Vacant 34 Total 1 BR / 1 BA 2 BR / 1 BA 2 BR / 2 BA $6 $7 $ Section 42 Sizes vary from unit to unit x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace x Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator x Microwave Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings (Some) x Disability Access Grills available x Walk-in Closets (Some) x Ceiling Fans (Some) x On-site Guest Parking Security Deposit: $3 Lease: 12 months Remarks: Cats are allowed. Pet weight limit: 1 lbs. Max number of pets: 2. Refundable pet deposit: $15; monthly pet rent: $25. 47

49 Comparable: Falls Parc Year Built: 24 Map #: Address: Falls Parc Drive, Sheboygan Falls, WI Telephone: (92) Vacant 84 Total 1 BR / 1 BA 2 BR / 2 BA 3 BR / 1.5 BA $665-$695 $765-$795 $935-$ Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace Hot Water Community Room Disposal x Air Conditioning Electricity Fitness Center x Washer/Dryer Drapes/Blinds x Heat (Gas) (1 & 2 BR units only) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage (3 BR units only) Extra Storage x Pre-wired for Cable TV x Individual Entrance On-Site Management High Speed Internet Access x Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings x Disability Access Grills available Walk-in Closets Ceiling Fans On-site Guest Parking Security Deposit: 1 BR ($4), 2 BR ($5), 3 BR ($6 Lease: 12 months Remarks: Currently 2 units are reserved for Sargento Corporate and 1 unit is reserve for Kohler intern. Pet Deposit - $25; Pet Rent - $4/month. 48

50 Comparable: Ravina Village Year Built: 2/3 & 6 Map #: Address: Redtail Drive, Sheboygan Falls, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 BA 3 BR / 1.5 BA $595 $695 $ Laundry Room x Refrigerator x W/W Carpet Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center x Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage Extra Storage x Pre-wired for Cable TV x Individual Entrance x On-Site Management x High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings Disability Access (Lower x units) Grills available x Walk-in Closets (3 BR units) Ceiling Fans On-site Guest Parking Security Deposit: $35 Lease: Month to month after the first year Remarks: Dogs & cats up to 25 lbs with a $25 additional charge per month and $35 pet deposit. 49

51 Comparable: Timber Springs Year Built: 25 Map #: Address: 14 Happy Lane, Sheboygan Falls, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 & 1.5 BA $67-$75 $755-$ Laundry Room x Refrigerator x W/W Carpet Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher x Fireplace (All unites) Hot Water Community Room x Disposal x Air Conditioning (Wall unit) Electricity Fitness Center x Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator x Microwave x Garage (1 car detached) x Extra Storage x Pre-wired for Cable TV x Individual Entrance On-Site Management x High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings x Disability Access (lower units) Grills available x Walk-in Closets x Ceiling Fans (Upper units) x On-site Guest Parking Security Deposit: $499 or full month rent pending credit check results. Lease: 1 year than can go to month to month for an additional $2 a month. Remarks: In a few of the buildings cats are allowed, no dogs. There is a $5 pet deposit and $2 monthly charge. Cats must be declawed and spayed or neutered. Swimming pond. 5

52 Comparable: Briarwood Cottage Year Built: 1992/2/214 Map #: Address: 53 S Pleasant View, Plymouth, WI Telephone: (92) Vacant (new) 1 BR / 1 BA 2 BR / 1.5 BA 2 BR / 2 BA $755-$79 $815-$875 $815-$ Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace Hot Water x Community Room x Disposal x Air Conditioning Electricity Fitness Center x Washer/Dryer (16-2 BR/2 BA units only) x Drapes/Blinds x Heat (Gas) Jacuzzi x W/D Hook-up Controlled Entry Elevator Microwave x Garage Extra Storage x Pre-wired for Cable TV x Individual Entrance x On-Site Management x High Speed Internet Access x Sun Room x Clubhouse Wireless Internet Access x Vaulted Ceilings x Disability Access Grills available Walk-in Closets x x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: 12 months Remarks: 16 new units are being built and are fully leased. Pets are allowed under 25 lbs. 51

53 Comparable: Colonial Columns Year Built: 1991 Map #: Address: 611 Appleton Street, Plymouth, WI Telephone: ( Vacant BR / 2 BA 2 BR / 2 BA 2 BR / 2 BA $51 $59 $64 26 Section 42 2 All s SF varies x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace x Hot Water x Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator Microwave x Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access x Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: 12 months Remarks: All units are senior living 55+, 26 units are income based and 2 units are market rate. No pets. 52

54 Comparable: Fairview Crossing Apartments Year Built: 199 Map #: Address: 728 South Pleasant View Road, Plymouth, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 BA $46 $525 Section x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer x Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace x Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator x Microwave Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings Disability Access x Grills available x Walk-in Closets (Some) x Ceiling Fans x On-site Guest Parking Security Deposit: 1 month rent Lease: Month to month after the first year Remarks: Large yard, beautiful grounds. Cats ok. 53

55 Comparable: Legion Apartments Year Built: 1984 Map #: Address: 211 North Street, Plymouth, WI Telephone: (92) Vacant BR / 1 BA 2 BR / 1 BA $525 $ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace Hot Water Community Room x Disposal x Air Conditioning Electricity Fitness Center Washer/Dryer (Some) x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator Microwave x Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access Grills available x Walk-in Closets Ceiling Fans On-site Guest Parking Security Deposit: 1 month rent Lease: 1-year lease, then month to month available Remarks: Pets are allowed for a $15 deposit. 54

56 Comparable: Pleasant View Townhomes Year Built: 21 Map #: Address: 563 S Pleasant View Rd, Plymouth, WI Telephone: (92) Vacant 24 1 BR / 1 BA 2 BR / 1 BA 2 BR / 2 BA $585-$595 $655-$755 $785 Section 42 1 Unit Market Rate x Laundry Room x Refrigerator W/W Carpet x Water/Sewer x Playground x Range/Oven x Balcony/Yard Trash Removal Swimming Pool x Dishwasher Fireplace x Hot Water x Community Room x Disposal x Air Conditioning Electricity x Fitness Center x Washer/Dryer (Some) x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up Controlled Entry Elevator x Microwave x Garage Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access x Vaulted Ceilings Disability Access Grills available x Walk-in Closets x Ceiling Fans On-site Guest Parking Security Deposit: Lease: 12 months Remarks: A cat may be permitted with additional monthly fee. *Above information may not be complete 55

57 Comparable: Salem Green Benevelent Corp Apartments Year Built: 1989 Map #: Address: 322 North Highland Ave, Plymouth, WI Telephone: (92) Vacant 78 2 BR / 1 BA $78, 951 Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven x Balcony/Yard x Trash Removal Swimming Pool x Dishwasher Fireplace Hot Water x Community Room x Disposal x Air Conditioning Electricity Fitness Center x Washer/Dryer x Drapes/Blinds Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator Microwave x Garage x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse Wireless Internet Access Vaulted Ceilings x Disability Access Grills available x Walk-in Closets x Ceiling Fans x On-site Guest Parking Security Deposit: None Lease: Month to Month fee, $78, is paid in full Remarks: Nonprofit Corporation, condo with prepaid rent of $78, and $185 monthly maintenance fee. 56

58 Comparable: South Horizon Living Year Built: 1982 Map #: Address: 93 E Clifford Street, Plymouth, WI Telephone: (92) Vacant 32 1 BR / 1 BA $ x Laundry Room x Refrigerator x W/W Carpet x Water/Sewer Playground x Range/Oven Balcony/Yard x Trash Removal Swimming Pool Dishwasher Fireplace x Hot Water x Community Room Disposal x Air Conditioning x Electricity Fitness Center Washer/Dryer x Drapes/Blinds x Heat (Gas) Jacuzzi W/D Hook-up x Controlled Entry x Elevator Microwave x Garage (8 total) x Extra Storage x Pre-wired for Cable TV Individual Entrance x On-Site Management High Speed Internet Access Sun Room Clubhouse x Wireless Internet Access Vaulted Ceilings x Free Wi-Fi in Community Room x Disability Access x Grills available Walk-in Closets x x Ceiling Fans x On-site Guest Parking Security Deposit: $8 Lease: 6 months unless the tenant is leaving for health issues such as transferring to a nursing home. A 9 day notice is required before vacating or a 3 day in the event the tenant is transferring for health issues. Remarks: Assisted living units are being built; once this is complete there will be no vacancies in the complex. Pets are not allowed. 57